Oxbow Advisors LLC Purchases New Shares in Lululemon Athletica Inc. (NASDAQ:LULU)

Oxbow Advisors LLC acquired a new position in Lululemon Athletica Inc. (NASDAQ:LULU) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 12,505 shares of the apparel retailer’s stock, valued at approximately $3,735,000.

A number of other large investors have also recently made changes to their positions in LULU. Tidemark LLC purchased a new position in Lululemon Athletica in the fourth quarter worth about $26,000. Scarborough Advisors LLC purchased a new position in shares of Lululemon Athletica in the 4th quarter worth approximately $26,000. Richardson Financial Services Inc. bought a new position in shares of Lululemon Athletica during the 4th quarter valued at approximately $31,000. True Wealth Design LLC increased its position in shares of Lululemon Athletica by 2,950.0% during the 4th quarter. True Wealth Design LLC now owns 61 shares of the apparel retailer’s stock valued at $31,000 after purchasing an additional 59 shares during the last quarter. Finally, Benjamin Edwards Inc. raised its holdings in Lululemon Athletica by 176.0% during the 1st quarter. Benjamin Edwards Inc. now owns 69 shares of the apparel retailer’s stock valued at $27,000 after buying an additional 44 shares during the period. 85.20% of the stock is currently owned by institutional investors.

Lululemon Athletica Price Performance

Lululemon Athletica stock traded up $0.14 during trading hours on Friday, hitting $253.84. 2,589,521 shares of the stock traded hands, compared to its average volume of 2,143,810. Lululemon Athletica Inc. has a 1 year low of $226.01 and a 1 year high of $516.39. The stock has a market capitalization of $31.73 billion, a price-to-earnings ratio of 20.36, a P/E/G ratio of 1.40 and a beta of 1.25. The firm’s 50 day moving average price is $266.51 and its 200-day moving average price is $332.93.

Lululemon Athletica (NASDAQ:LULU) last issued its quarterly earnings results on Thursday, August 29th. The apparel retailer reported $3.15 earnings per share for the quarter, topping the consensus estimate of $2.93 by $0.22. Lululemon Athletica had a net margin of 16.34% and a return on equity of 42.69%. The company had revenue of $2.40 billion for the quarter, compared to the consensus estimate of $2.41 billion. During the same quarter in the prior year, the company earned $2.68 EPS. Lululemon Athletica’s quarterly revenue was up 9.1% on a year-over-year basis. Research analysts forecast that Lululemon Athletica Inc. will post 13.9 earnings per share for the current fiscal year.

Lululemon Athletica announced that its board has approved a stock repurchase program on Wednesday, June 5th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the apparel retailer to purchase up to 2.5% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

LULU has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. dropped their price target on shares of Lululemon Athletica from $457.00 to $338.00 and set an “overweight” rating for the company in a research note on Thursday, July 25th. KeyCorp reduced their target price on Lululemon Athletica from $415.00 to $350.00 and set an “overweight” rating on the stock in a research note on Friday, August 30th. Telsey Advisory Group cut their price target on shares of Lululemon Athletica from $470.00 to $360.00 and set an “outperform” rating on the stock in a report on Monday, August 26th. BMO Capital Markets dropped their target price on shares of Lululemon Athletica from $420.00 to $384.00 and set a “market perform” rating on the stock in a research note on Thursday, June 6th. Finally, Robert W. Baird decreased their price target on shares of Lululemon Athletica from $470.00 to $350.00 and set an “outperform” rating for the company in a research note on Wednesday, July 31st. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty-one have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $354.94.

Insider Activity at Lululemon Athletica

In related news, CEO Calvin Mcdonald purchased 4,000 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were bought at an average cost of $260.00 per share, with a total value of $1,040,000.00. Following the transaction, the chief executive officer now owns 89,922 shares of the company’s stock, valued at $23,379,720. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.48% of the stock is currently owned by insiders.

Lululemon Athletica Company Profile

Lululemon Athletica Inc, together with its subsidiaries, designs, distributes, and retails athletic apparel, footwear, and accessories under the lululemon brand for women and men. It offers pants, shorts, tops, and jackets for healthy lifestyle, such as yoga, running, training, and other activities. It also provides fitness-inspired accessories.